Asharq Al Awsat
The Libya Africa Investment Portfolio (LAIP) is considering increasing its investments in Morocco, said Portfolio International Relations Manager Younis Bishari.
He told Asharq Al-Awsat on Tuesday that a specialized committee is considering several opportunities in real estate, tourism and oil sectors in Morocco, and is expected to reach a final conclusion before April 2.
The announcement was made during a five-day visit to Morocco by a LAIP delegation headed by its Chairman and General Manager Mohammed Attieh al-Mansouri al-Obeidi.
The visit came at the invitation of the Moroccan Commercial Foreign Bank, which has shared interests with LAIP in a number of African states.
Bishari did not disclose the value of investment opportunities that LAIP is considering in Morocco, saying they will be revealed after the assessments are complete.
He noted that Morocco is a country that attracts investments due to its political and security stability, not to mention its investment regulations.
He added that LAIP had a ‘‘strategic plan which it was implementing, especially if the investment climate was encouraging.”
“But our priority is to support existing investments, ensuring our relationships with our partners and thereon studying available investment opportunities if they are within LAIP’s plan.’’
In a news conference on Tuesday, Obeidi commented that LAIP investments in Morocco were ‘‘successful and profitable, which encouraged us to come to here to study available opportunities.”
Assets’ value of the Libyan Investment Authority reached $67 billion via 55 investment firms distributed over three continents through subsidiary firms represented in: Libyan Arab Foreign Investment Company (LAFICO), Libya Africa Investment Portfolio (LAIP), Long Term Investment Portfolio (LTP), OilInvest and Libyan Local Investment & Development Fund (LLIDF).
